BlackRock Inc. bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,444,208 shares of the company's stock, valued at approximately $1,298,925,000. BlackRock Inc. owned 5.65% of SoFi Technologies at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of SOFI. Vanguard Group Inc. grew its stake in SoFi Technologies by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after acquiring an additional 3,900,895 shares in the last quarter. State Street Corp raised its stake in shares of SoFi Technologies by 6.7% during the fourth quarter. State Street Corp now owns 25,937,928 shares of the company's stock valued at $679,055,000 after acquiring an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SoFi Technologies by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock valued at $618,395,000 after purchasing an additional 1,951,248 shares during the period. Morgan Stanley grew its stake in SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock worth $348,806,000 after purchasing an additional 3,350,258 shares in the last quarter. Finally, Norges Bank bought a new position in SoFi Technologies in the fourth quarter worth approximately $321,515,000. Institutional investors own 38.43% of the company's stock.
SoFi Technologies Stock Down 2.7%
NASDAQ:SOFI opened at $17.92 on Friday. The company's 50-day simple moving average is $17.68 and its 200-day simple moving average is $17.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. SoFi Technologies, Inc. has a fifty-two week low of $14.88 and a fifty-two week high of $32.73. The stock has a market capitalization of $23.14 billion, a P/E ratio of 37.33 and a beta of 2.17.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. SoFi Technologies's revenue was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CTO Jeremy Rishel sold 102,123 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the transaction, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. The trade was a 10.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 10,954 shares of the company's stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $17.19, for a total value of $188,299.26. Following the transaction, the executive vice president directly owned 367,728 shares in the company, valued at $6,321,244.32. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 125,219 shares of company stock valued at $2,214,948 in the last three months. Insiders own 2.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on SOFI. Weiss Ratings raised SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Truist Financial increased their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research report on Wednesday, August 12th. Piper Sandler started coverage on SoFi Technologies in a research note on Monday. They set an "overweight" rating and a $22.00 price target on the stock. Citigroup decreased their price objective on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Monday, May 4th. Finally, TD Cowen lowered their price objective on shares of SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.42.
Read Our Latest Stock Report on SOFI
Key SoFi Technologies News
Here are the key news stories impacting SoFi Technologies this week:
- Positive Sentiment: Fintech-sector rally supports sentiment. SoFi shares participated in a broader rebound among fintech lenders, helped by a sharp move in the Treasury market and improved investor appetite for growth-oriented financial stocks. SoFi Climbs 6%, Upstart Jumps 8%, Affirm Rises 7% as Fintech Names Rebound With Bond Market Catalyst
- Positive Sentiment: Piper Sandler assigned SoFi an Overweight rating. The analyst endorsement adds support to the bullish case following SoFi’s strong second-quarter performance. Other coverage has pointed to potentially substantial upside after the company exceeded earnings and revenue expectations. SoFi Technologies Earns Overweight Rating from Piper Sandler
- Positive Sentiment: Record lending activity highlights operating momentum. SoFi originated approximately $14.8 billion in loans, reinforcing growth expectations. Its diversified revenue base, profitability and deposit funding were also viewed favorably compared with Upstart. SoFi Technologies Loan Boom: Can Record Originations Keep Climbing?
- Positive Sentiment: Potential crypto-regulation tailwind. Cryptocurrency and blockchain-related stocks rose after President Trump urged Congress to pass the Clarity Act, which could establish clearer digital-asset rules. The sector-wide move may benefit SoFi’s fintech narrative, although the direct financial impact remains uncertain. Bitcoin, Crypto Shares Climb After Trump Pushes Clarity Act
- Neutral Sentiment: Strong earnings provide a supportive foundation. SoFi recently reported earnings above consensus, revenue growth of 42.5% year over year and quarterly revenue ahead of estimates. Investors are now focused on whether this growth can continue under the company’s fiscal 2026 outlook. SoFi Technologies Just Reported Earnings: The One Number That Matters Most
- Negative Sentiment: Valuation and execution risks are limiting enthusiasm. Analysts and commentators note that SOFI’s shares appear priced at a premium after more than doubling over three years. Investors are also monitoring credit performance and funding costs as originations expand, while some fintech names are viewed as priced for near-perfect execution. SoFi Stock Looks Rich on Fair Value Yet Strong on Returns
About SoFi Technologies
(
Free Report)
SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.
SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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